Investing megathread extravaganza

[DaFace]

A place to talk about investing stuff.

[eDave]

https://www.reddit.com/r/GirlsGoneBitcoin/

[Discuss Thrower]

Originally Posted by DJJasonp

Wouldnt this decrease demand for mortgages (and therefore, keep rates same or lower)?

Mix in the tremendous amount of people who have lost their jobs - and the market for people who can qualify for a loan has drastically decreased over the past few weeks.......

JPMorgan Chase, the country’s largest lender by assets, is raising borrowing standards this week for most new home loans as the bank moves to mitigate lending risk stemming from the novel coronavirus disruption.

From Tuesday, customers applying for a new mortgage will need a credit score of at least 700, and will be required to make a down payment equal to 20% of the home’s value.

The change highlights how banks are quickly shifting gears to respond to the darkening U.S. economic outlook and stress in the housing market, after measures to contain the virus put 16 million people out of work and plunged the country into recession.


Source

[Buehler445]

Originally Posted by Discuss Thrower

JPMorgan Chase, the country’s largest lender by assets, is raising borrowing standards this week for most new home loans as the bank moves to mitigate lending risk stemming from the novel coronavirus disruption.

From Tuesday, customers applying for a new mortgage will need a credit score of at least 700, and will be required to make a down payment equal to 20% of the home’s value.

The change highlights how banks are quickly shifting gears to respond to the darkening U.S. economic outlook and stress in the housing market, after measures to contain the virus put 16 million people out of work and plunged the country into recession.


Source

It’s been awhile since I’ve been too involved in credit scores, how many people is that going to exempt?

[Discuss Thrower]

Originally Posted by Buehler445

It’s been awhile since I’ve been too involved in credit scores, how many people is that going to exempt?

The average American does not have above a 700 FICO score.

[Buehler445]

Nice

[O.city]

Would that theoretically drive the price of homes down?

[shitgoose]

Originally Posted by O.city

Would that theoretically drive the price of homes down?

Yes. Fewer qualified buyers will reduce demand.

[lewdog]

Does my 805 credit score get me a discount?

#R8ers

[Discuss Thrower]

Originally Posted by O.city

Would that theoretically drive the price of homes down?

You're fighting decades of data that says no in terms of real prices but theoretically yes.

[Hog's Gone Fishin]

Who bought oil??? Gonna be rewarded this week it appears. Everybody is slashing oil production to get prices back to $40 a barrel.

When it tanked I borrowed 10K from my LOC and threw it at USO

I knew the cure for $25 oil was $25 oil.

[ghak99]

Originally Posted by Hog's Gone Fishin

Who bought oil??? Gonna be rewarded this week it appears. Everybody is slashing oil production to get prices back to $40 a barrel.

When it tanked I borrowed 10K from my LOC and threw it at USO

I knew the cure for $25 oil was $25 oil.

Didn't buy oil, but I locked in enough fuel to get me through most of the year and a thousand gallons of gas. Had to stoop to threatening to switch fuel companies to get it done though.

[Buehler445]

Originally Posted by lewdog

Does my 805 credit score get me a discount?

#R8ers

R8ers wouldn't have a credit score because he's all cash.

Unless I missed something.

[Buehler445]

Originally Posted by ghak99

Didn't buy oil, but I locked in enough fuel to get me through most of the year and a thousand gallons of gas. Had to stoop to threatening to switch fuel companies to get it done though.

Dad contracted fuel about February...Go figure.

[Buehler445]

Originally Posted by Hog's Gone Fishin

Who bought oil??? Gonna be rewarded this week it appears. Everybody is slashing oil production to get prices back to $40 a barrel.

When it tanked I borrowed 10K from my LOC and threw it at USO

I knew the cure for $25 oil was $25 oil.

Ya know, they always told us the cure for cheap corn is cheap corn. It took like 10 years (lets call it 02 to 12) for corn to drive the market because of ethanol.

That would have been a hell of a lot of margin calls and commission if you had done it on the board.

[lewdog]

Originally Posted by Hog's Gone Fishin

Who bought oil??? Gonna be rewarded this week it appears. Everybody is slashing oil production to get prices back to $40 a barrel.

When it tanked I borrowed 10K from my LOC and threw it at USO

I knew the cure for $25 oil was $25 oil.

USO a buy at $5?